BUDGET COMMISSION OF THE CITY OF EAST PROVIDENCE NOTICE OF PROPOSED PROPERTY TAX RATE CHANGE

The Budget Commission of the City of East Providence proposes to level fund the City’s property tax levy of $99,314,040 in the 2012-2013 budget year; the property tax levy this year is $99,314,040. THIS IS A PROPOSED INCREASE OF 0%.

It has been estimated that the proposed level funding in property tax revenues will result in no change to the current property tax rate of $20.74 per $1,000 of assessed valuation for residential real estate, $22.94 per $1,000 of assessed valuation for com- mercial real estate and $51.19 per $1,000 of assessed valuation for tangible personal property.

The property tax levy for the 2012-2013 budget year also includes motor vehicles at a tax rate of $37.10 per $1,000 of assessed valuation in accordance with state law.

A property tax rate of $21.65 for residential real estate, $23.95 for commercial real estate and $53.44 for tangible personal property would be needed in the coming budg- et year to raise the maximum levy authorized by section 44-5-2 of the general laws.

The City budget will be considered on October 4 at 3:00 PM and on October 18, 2012 at 5:00 PM in Room 306 of City Hall. The public is invited to attend and participate in the meetings.

The above property tax estimates have been computed in a manner approved by the Rhode Island Department of Revenue.

REPORT TO TAXPAYERS ON CURRENT AND PROPOSED BUDGET

REVENUES:

Property Taxes Municipal State Aid Permits/Licenses Transfers

Other School State Aid School Other Total

EXPENSES:

City Council City Manager Senior Services Information Technology City Clerk Finance Department Control and Accounts Treasury MIS Purchasing Assessment Planning Law Human Resources Canvassing Authority Public Library Public Works Police Fire Recreation Miscellaneous Debt/Lease OPEB Budget Reserve School Department Total

$ 93,420,034 $4,237,760 $3,118,622 $7,274,130 $125,571 $24,440,946 $2,142,574 $134,759,637

$54,659 $253,350 $359,408 $418,405 $657,939 $125,258 $370,175 $636,042 $397,689 $78,345 $676,524 $575,163 $319,962 $570,216 $216,521 $2,187,278 $9,634,849 $11,845,901 $12,521,760 $1,936,864 $8,136,942 $4,690,426 $2,872,131 $0 $75,223,830 $134,759,637

$ 96,100,525 $4,453,824 $3,504,351 $979,005

$0 $26,284,637 $2,708,668 $134,031,010

$24,410 $255,895 $268,437 $277,629 $553,397 $149,430 $246,251 $543,317 $627,807 $183,063 $555,320 $538,317 $306,225 $461,544 $178,098 $1,969,768 $8,687,841 $14,984,254 $16,022,257 $1,687,059 $1,031,906 $5,249,872 $6,042,118 $961,005 $72,225,790 $134,031,010

Certification: This is to certify that the data contained in this report is accurate to the best of my knowledge.

Diane Brennan Date: September 20, 2012 Chair East Providence Budget Commission

October 4, 2012

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